Yes (up to 100,000 EUR per depositor)
Deposit guarantee scheme is a financial stability mechanism
implemented in many countries to protect bank depositors against the loss of their deposits
in the case when a bank is unable to meet its obligations to depositors
by compensating certain deposits held by depositors of the bank.
This compensation is paid out from the contributions which banks have made
into a deposit guarantee fund.
Deposit Guarantee in VP Bank (Luxembourg) S.A.
All credit institutions operating in Luxembourg are obliged to participate
in Luxembourg deposit guarantee scheme.
VP Bank (Luxembourg) S.A. is a member of Fonds de garantie des dépôts Luxembourg (FGDL) and makes its contributions into it. In the case of VP Bank (Luxembourg) S.A. failure, eligible depositors having covered accounts
in this bank will be paid out the following compensation:
Maximum Protected Amount
Temporary High Balance
residents of Luxembourgcitizens of Luxembourgforeign residentsforeign citizens
micro, small and medium-sized enterprisescompanies
current accountssight or term savings accountscertain certificates of deposit
all cash deposits, for example
EUR (Euro)foreign currencies
all currencies, namely
Fonds de garantie des dépôts Luxembourg (FGDL)
283, route d’Arlon, L-1150 Luxembourg
(+352) 26 25 1-1
(+352) 26 25 1-2601
Banking Products in Luxembourg
8 September 2015
30 May 2020
20 September 2017